Financial terms of the deal with Kingswood Capital Management, based in Los Angeles, remained undisclosed. The deal represents the fifth, and final, noncore asset sale the Union-based retailer went through.
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“The completion of this transaction marks the conclusion of our work to streamline our portfolio,” CEO and President Mark Tritton said in a prepared statement. “These efforts will help fund our transformation and put us in the position to start fiscal 2021 with a more cohesive set of core businesses.”
Bed Bath was advised on the transaction by B. Riley Securities Inc. and Bryan Cave Leighton Paisner LLP.